Stifel Nicolaus set a $34.00 price objective on Cisco Systems, Inc. (NASDAQ:CSCO) in a research report released on Tuesday. The brokerage currently has a hold rating on the network equipment provider’s stock.
Several other analysts have also recently weighed in on CSCO. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the stock a hold rating in a research note on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the stock a buy rating in a research note on Saturday, July 1st. Credit Suisse Group reiterated a buy rating on shares of Cisco Systems in a research note on Thursday, August 10th. Vetr cut shares of Cisco Systems from a buy rating to a hold rating and set a $33.18 price objective for the company. in a research note on Wednesday. Finally, Cowen and Company reiterated an outperform rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Tuesday, July 4th. Fourteen analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Cisco Systems presently has an average rating of Buy and a consensus target price of $35.46.
Cisco Systems (NASDAQ CSCO) opened at 30.37 on Tuesday. The firm has a market cap of $151.64 billion, a price-to-earnings ratio of 15.98 and a beta of 1.24. The stock’s 50 day moving average is $31.48 and its 200-day moving average is $32.55. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 17.04%. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. On average, analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.73%.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock worth $12,503,407 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. increased its position in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC increased its position in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems during the second quarter worth about $104,000. Grove Bank & Trust increased its position in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the last quarter. Institutional investors own 75.28% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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